News

RCBC is selling a minority stake worth about $100 million to an undisclosed investor as part of efforts to boost its capital.

The banks follow suit the migration of Taiwanese companies to Vietnam behind its low manufacturing and labor costs.

Its collaboration with China Huarong Asset Management aims to focus on wealth management, insurance and rural lending.

The Dutch banker taps Australia’s rural banking market as it recruit staff for its expansion in the country.

Fubon Financial is considering opening rural banks in China in an effort to tap the mainland's fast-growing rural economy.

Habubank's 2010 net profit inreased by 13 per cent to US$35.7 million from 2009.

Sacombank-STBcombined after tax profit in Q4 2010 fell by 118 billion dong or 24.5 per cent against the same period from the previous year.

Union Bank shares were barely changed after announcing that it will issue 30.9mn shares to the India government.

Vietnam International Bank, Military Bank, Techcombank, Sacombank and Asia Commercial Bank are being blamed for a loss of around US$7.6 million to the state budget.

The bank to offer bank accounts, subsidy transfers and basic insurance for farm produce in the next six months.

Bank Negara Malaysia hopes to issue two mega Islamic bank licences this year.

PT Bank Pan Indonesia is eyeing a 25 per cent growth from its 2010 lending total of US$6.2 billion.

The Indian government is on the process of assessing the lender’s capital requirement if it should have a Tier I capital adequacy ratio of 9-9.5%.

The lender is also interested to buy stakes in life as well as non-life firms.

Move aims to comply with regulatory requirements based on Basel III agreement.

The lender’s chairman is driven to choose the subcontinent above any other country.